371–375 of 375 posts
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> It’s slow and expensive and doesn’t scale. This is 2020 speak. In 2026, crypto scales and its extremely cheap. it costs less than a hundredth of a cent to do a transfer today.
> In 2026, crypto scales and its extremely cheap. And is helping fry the planet. No thanks.
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> o nobody needs to pay extra fees Processing cash is by far >not free<! In fact, it costs a lot of money due to all the things involved (counting/collection/recycling etc). Anf it inwolves additional risks for the handling party.
In the past I handled cash as an employee and as a volunteer. Like even a quiet night at a bar can sum up to a few thousand EUR. Yes handling cash is not free. But compared to some charges or fees it's often quiet cheap. Sure you need to think a head like how much small change money you will need or how much cash for change in general. You also need kind of routine and flow for counting and handling but even if I had…
In 2009 Sweden had 58 armored car robberies, in 2018 there were 1. This used to be a big concern in Sweden, now it's basically a nonissue.
There were 1154 store robberies in 2009, in 2018 there were 515. Muggings are also down considerably. 2022 was the first year with zero bank robberies. This is mostly thanks to the much lower use of cash.
https://www.riksbank.se/sv/betalningar--kontanter/sa-betalar...
https://bra.se/download/18.54e1fb8a19c479963d63601e/17731372...
Earlier quoted context omitted.
In the past I handled cash as an employee and as a volunteer. Like even a quiet night at a bar can sum up to a few thousand EUR. Yes handling cash is not free. But compared to some charges or fees it's often quiet cheap. Sure you need to think a head like how much small change money you will need or how much cash for change in general. You also need kind of routine and flow for counting and handling but even if I had…
half an our - every day. I know of a large restaurant chain with some "bigger" branches: They often have to count two or three times with different people to be sure, that the amount is correct. Every evening. Then you have transport companies which pick up the cach (or refill ATM) - you pay there for every time they stop, and you pay a tiny fraction per bill processed etc. (though, most restaurants do not use these…
In my opinion, the only solution is everyone (individuals as well as corporations) gets a direct account with the federal reserve as long as you can associate a taxpayer identification with the account. Using it is voluntary but it is free of cost, paid for by taxes, and moving money to and from accounts is free of cost. Depositors would get the same overnight interest rate that banks do, and this interest is added e…
How are chargebacks resolved in this situation? This is an important question- most of the costs of a credit card providers come from dealing with fraud and chargebacks. That's partially because, under US law, credit card companies have to eat fraudulent charges if they can't get the person or company that did the fraud to do so. (Funnily enough, this is one of two places where protections for average people in the U…
I play the credit card "game" because I hate feeling like I'm leaving money on the table, but I really wish I didn't have to. Some degrees of fees make sense, to run the network, and handle fraud, but it's ridiculous that people have this sense that shopping should somehow fund your vacation. Where I am it's increasingly common to see credit card fees when checking out. I get it, because merchants are being charged 3…